In contract of guarantee the person who gives guarantee is called __________________?
Correct answer: B. Surety
- A. Principal debtor
- B. Surety
- C. Both (a) and (b)
- D. None of above
Explanation
In a contract of guarantee, the person who gives the guarantee is the surety. The person whose default is guaranteed is the principal debtor, while the person to whom the guarantee is given is the creditor.
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Civil law governs disputes involving private rights, including contracts, property, family relations, torts and compensation. The subject explains breach of duty, civil liability, damages, specific relief, injunctions and other remedies, while distinguishing private claims between individuals from criminal proceedings brought to punish offences against the state.
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